Custodia Bank CEO Caitlin Long told American Banker she expects most U.S. demand deposits to eventually be tokenized, arguing that programmable tokenized dollars will make ACH payment rails obsolete. Long has spent years pushing for master account access at the Fed for crypto-native banks, giving her view an institutional credibility that generic fintech commentary lacks.
For Armada's crypto desk, tokenized dollars maturing into a mainstream settlement mechanism would smooth the operational friction of crypto-collateralized repo: margin calls, collateral substitutions, and settlement could all run on-chain without fiat wire lag. It also elevates the relevance of tokenized T-Bills already on Armada's accepted collateral list. Fireblocks custody integration should be reviewed for compatibility with emerging tokenized deposit standards.